Research On The Influence Of The Degree Of Debt Sources Heterogeneity On Accounting Conservatism

In recent years,domestic and foreign exposure of the financial scandal event triggers the concerns of practice field on accounting information security.Robustness is one of the important characteristics of accounting information,requiring the accounting staff to uphold the principle of prudence to ensure that corporate accounting information is worth the trust of stakeholders.In the case of the separation of the two powers,the creditor is one of the most important funding providers.Becausing of the failure to participate in the daily management of the company,they are on the inferior position for information and t his disadvantage will cause the debtor to sacrifice the interests of the creditors for their own benefit and overestimate assets or income.Therefore,the creditor for the protection of their own interests improves the concern and requirement on company's accounting stability and the impact of debt financing on accounting conservatism has become one of the hot spots of academic research.Sort out the relevant literature of this article,this article founds that the research on the influential factors of accounting conservatism focus on the maturity structure of debt,debt contract and so on,ignoring the impact of the degree of heterogeneity formed by different sources of debt financing on accounting conservatism.So this article as a starting point for research.Debt financing is one of the indispensable ways of corporate finance.The degree of debt sources heterogeneity is closely related to the capital structure of the firm.Studying the effect of the degree of debt sources heterogeneity on accounting conservatism is of great significance to improve the stability of corporate accounting.This article uses the combination of normative research and empirical research.In normative research,this article combs the relevant literature firstly,reviewing the definition of accounting conservatism,its existence and its measurement methods,the formulation of debt heterogeneity and its impact on accounting conservatism.And then based on the theory of information asymmetry,debt management theory,reputation theory and signal transmission theory,this article makes a theoretical analysis and puts forward hypotheses based on previous researches.In the empirical study,this paper takes the listed companies of the A-share mainboard market in Shanghai and Shenzhen as the research object in 2014~2016,using the accrual project accrual project measurement method to measure firm's accounting conservatism,integrating the degree of debt sources heterogeneity and accounting conservatism into the same framework for research;After based on our country's special national conditions,this paper takes virtual variables into consideration of the nature of property rights factor,observing that under the different nature of property right,the different influence of the degree of debt sources heterogeneity on accounting conservatism.The results show that the higher the degree of debt sources heterogeneity,the better the accounting conservatism.And this positive promotion effect is more pronounced in non-state-owned enterprises.Finally,according to the research,this paper puts forward some suggestions to strengthen the accounting conservatism of enterprises: extending debt financing channels,reducing the government's support to the "loan" of state-owned enterprises,making use of the self risk protection consciousness of the creditor,strengthening the supervision over state-owned enterprises properly and so on.The innovation point of this paper is from the perspective of the heterogeneity of debt sources to study the influence of the degree of debt sources heterogeneity on the accounting conservatism of enterprises.